Financial Report 2024

Financial resources for trade union support

In 2024, Mondiaal FNV supported about 140 projects run by 69 partners, for which the financial resources were provided mostly by the Dutch Ministry of Foreign Affairs (BuZa) within the framework of the Trade Union Co-financing Programme (Vakbondsmedefinancieringsprogramma, abbreviated to VMP) and the Sustainable Textile Initiative: Together for Change (STITCH), a consortium of six international organisations, including Mondiaal FNV. From 2023 to 2025 an extra VMP subsidy (Combination Track Countries [CTC] and Human Rights Due Diligence [HRDD]) was allocated. Other sources of financing included the FNV Solidarity Fund, to which 0.7 percent of FNV membership fees is transferred, the Dutch General Education Union (Algemene Onderwijsbond, abbreviated to AOb) and the Mondiaal FNV Fund, which combines donations from members and non-members as well as contributions resulting from collective labour agreements. Furthermore, we receive contributions from collaborative ventures with other organisations, such as the Dutch WageIndicator Foundation (Stichting Loonwijzer). In 2024, Mondiaal FNV received an EU grant for a project that will start in 2025.

In 2021, the new VMP and STITCH subsidy phases started, the programmes of which had been approved at the end of 2020. Within the context of the VMP, at the beginning of 2021 we entered into a strategic agreement with BuZa, which will run until 2030 (ten years), and the STITCH programme will run for five years.

In the course of the next few years, the subsidy that Mondiaal FNV receives through the VMP will decrease, and after five years it will be about 30 percent less annually than the amount received in 2020. Mondiaal FNV will manage this decline by focusing more on obtaining other subsidies, and by increasing revenues from donations as well as from contributions resulting from collective labour agreements.

Project expenditures

Mondiaal FNV uses the subsidies and donations received to support partner projects in Asia, Africa, Latin America and MENA region. The VMP financed 72.40 percent of the project expenditures, STITCH financed 14.12 percent, and other sources accounted for 13.48 percent.

Project and activity payments achieved / minus repayments

Explanation of the financial report

In 2024, Mondiaal FNV Foundation received funding from the government through the Trade Union Co-Financing Programme (VMP), the STITCH programme, several smaller grants, and its own resources provided by FNV, FNV sectors, the AOb (General Education Union), and individual donors. In addition, income was generated in cooperation with FNV through collective labour agreement negotiations.

Since 1 January 2012, Mondiaal FNV Foundation has held ANBI (Public Benefit Organisation) status. The foundation reports in accordance with generally accepted accounting principles, specifically following Guideline C1 for Small Non-Profit Organisations.

In 2024, FNV provided Mondiaal FNV with a sustainability contribution of €282,000. Through the directly affiliated sectors and the AOb, project funds were transferred to Mondiaal FNV. The spending of these funds takes place under the responsibility of the foundation, in close consultation with the AOb, the various sectors, and the cross-sectoral Committee for International Projects (SCIP)—a subcommittee of the FNV Committee on International Affairs and Solidarity of the FNV Members’ Parliament. The contributions spent by Mondiaal FNV are allocated to projects that are pre-determined through input from the FNV sectors and the AOb.

The income of Mondiaal FNV can be considered relatively stable. The year 2024 marked the fourth year of two of our subsidy programmes. In 2021, Mondiaal FNV entered into a new 10-year strategic partnership with the Ministry of Foreign Affairs, Directorate for Sustainable Economic Development (DDE), under the Trade Union Co-Financing Programme (VMP). Under the lead of the Fair Wear Foundation, the Sustainable Textile Initiative Together for Change (STITCH) also started in 2021 as part of the Ministry’s Power of Voices subsidy programme, in which Mondiaal FNV participates as a co-grantee. Additionally, Mondiaal FNV collaborates as a project partner and/or service provider with Stichting Arisa, Stichting Loonwijzer, and FNV (in the context of the IRBC agreements).

VMP, CTC & HRDD

The funds managed by the foundation mainly originate from the VMP, CTC, and HRDD programmes. The year 2024 was the fourth year of the VMP subsidy period (2021–2030). For 2023, 2024 and 2025, an additional VMP grant (CTC and HRDD) was awarded. In 2024, VMP-related project commitments represented 72% of all project commitments made by Mondiaal FNV.

In 2024, a total of €7,836,346 in revenues was generated within VMP, CTC, and HRDD, of which €2,321,064 related to the overhead cost reimbursement. Combined, these accounted for 72% of Mondiaal FNV’s total revenues.

The total committed amount for 2024 was lower than in the previous financial year, as several new multi-year projects had already started in 2023, reducing the need for new commitments in 2024. At the end of 2024, a fifth advance payment was received from the Ministry, which was insufficient to cover all expenditures, resulting in a receivable from the grant provider.

STITCH

STITCH is a partnership between Fair Wear Foundation (FWF), CNV Internationaal, Mondiaal FNV, ETI (UK), CIVIDEP (India), and CDI (Vietnam). The partnership is financed through a five-year grant from the Dutch Ministry of Foreign Affairs under the Power of Voices programme. FWF acts as the lead partner.

In 2024, Mondiaal FNV committed €955,175 to projects within the STITCH programme. The overhead cost reimbursement amounted to €491,202, resulting in a total of €1,446,377.

Overhead Costs

Overhead (organisational) costs are allocated based on time registration. As a result, the budgeted and actual results may differ; although efforts are made to plan as realistically as possible, the number of hours charged to a particular programme can vary from year to year.
An exception is the organisational contribution from FNV, which is not earmarked for specific projects but serves to finance part of the overhead costs, including fundraising. This contribution therefore remains constant.

Equity of Mondiaal FNV

The equity serves as a buffer to absorb potential unforeseen setbacks. Its size is not capped. Within Mondiaal FNV’s equity, a designated fund has been established that may only be used to commit more than 100% of the available STITCH and VMP funds, ensuring that under-expenditure of the Ministry of Foreign Affairs’ VMP or STITCH funds is avoided, as agreed with the Mondiaal FNV Board.

In 2024, the portion of equity related to collective labour agreement (CAO) contributions with a specific purpose was segregated into a separate Designated Fund for CAO Contributions. In addition, a designated reserve was created for the portion of equity linked to other donations.
The remaining equity constitutes the general reserve of Mondiaal FNV. This reserve was allocated €429,945, resulting—after the aforementioned movements, which are detailed in the statement of changes in equity—in a general reserve of €1,897,338.

Salaries and Wages

In 2024, 25 employees worked for Mondiaal FNV, representing a total of 19.40 FTE.

Board

In 2025, several changes took place within the Board. Mr. Elzinga and Mr. Rietman stepped down, and were succeeded by Mr. Koerselman and Mr. Noordman, who joined the Board in 2025.

For more information on projects and activities, please refer to the 2024 Activity Report and the Mondiaal FNV website.